Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $32.00.
A number of equities research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of G-III Apparel Group in a report on Thursday, December 5th. Bank of America raised shares of G-III Apparel Group from a “neutral” rating to a “buy” rating in a report on Wednesday, November 13th. KeyCorp lowered their price target on shares of G-III Apparel Group from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, December 5th. B. Riley assumed coverage on shares of G-III Apparel Group in a report on Wednesday, December 4th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Cowen reaffirmed a “buy” rating and issued a $34.00 price target on shares of G-III Apparel Group in a report on Thursday, December 5th.
In other news, Director Bokhorst Willem Van sold 4,753 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $32.81, for a total transaction of $155,945.93. Following the completion of the transaction, the director now directly owns 56,636 shares in the company, valued at approximately $1,858,227.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in G-III Apparel Group by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 1,083,453 shares of the textile maker’s stock worth $31,876,000 after acquiring an additional 46,204 shares in the last quarter. BlackRock Inc. boosted its position in G-III Apparel Group by 9.6% during the second quarter. BlackRock Inc. now owns 6,841,163 shares of the textile maker’s stock valued at $201,268,000 after buying an additional 599,647 shares during the period. First National Bank of Omaha boosted its position in G-III Apparel Group by 24.0% during the third quarter. First National Bank of Omaha now owns 37,290 shares of the textile maker’s stock valued at $961,000 after buying an additional 7,220 shares during the period. Squarepoint Ops LLC boosted its position in G-III Apparel Group by 55.9% during the third quarter. Squarepoint Ops LLC now owns 131,182 shares of the textile maker’s stock valued at $3,381,000 after buying an additional 47,048 shares during the period. Finally, Victory Capital Management Inc. boosted its position in G-III Apparel Group by 45.9% during the second quarter. Victory Capital Management Inc. now owns 2,266,955 shares of the textile maker’s stock valued at $66,694,000 after buying an additional 713,195 shares during the period. Hedge funds and other institutional investors own 99.74% of the company’s stock.
Shares of NASDAQ:GIII traded up $0.56 during mid-day trading on Thursday, reaching $30.63. The company had a trading volume of 5,000 shares, compared to its average volume of 489,635. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 0.91 and a beta of 1.61. The company’s 50-day moving average price is $31.46 and its 200-day moving average price is $27.17. G-III Apparel Group has a one year low of $18.18 and a one year high of $43.98.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Wednesday, December 4th. The textile maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.17 billion. G-III Apparel Group had a net margin of 4.50% and a return on equity of 12.27%. G-III Apparel Group’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 EPS. On average, research analysts anticipate that G-III Apparel Group will post 3.12 EPS for the current fiscal year.
About G-III Apparel Group
G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates in two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.
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